In cooperation with the European Bank for Reconstruction and Development and the support of the European Union and the Green Climate Fund:
QNB ALAHLI launches first green retail program
QNB ALAHLI, one of the largest private sector banks in Egypt, announced the launch of the first green retail-financing program, in cooperation with the European Bank for Reconstruction and Development and with the support of the European Union and the Green Climate Fund.
Based on the Central Bank of Egypt's strategy to promote sustainability and sustainable financing and support green economy trends in line with achieving the sustainable development goals and the state's plan towards a healthy, clean and carbon-free climate.
The new program allows customers to benefit from 10% cashback on retail banking facilities such as cash loans when purchasing energy-efficient, environmentally friendly products that are fully sustainable.
QNB ALAHLI is the first bank in Egypt to offer EBRD financing to individuals, in addition to existing agreements that develop green, energy efficiency, water efficiency, renewable energy and resource efficiency projects. This will promote the use of high-performance technologies and services in climate change mitigation and adaptation activities and will help in the transition to a green economy in Egypt.
Mr. Mohamed Bedier, CEO of QNB Alahli, stressed that the bank supports the efforts of the transition towards a green economy by introducing innovative and distinguished services and new financing programs. He pointed out that the bank plays a major role in supporting the owners of companies and small and medium enterprises that consideration the environmental, social and sustainability principles in all its elements and give them priority in financing solutions.
QNB ALAHLI was also one of the first banks to launch contactless electronic payment bracelets to meet the needs of young people, which enhanced the bank's success and was crowned the Best Bank for Financial Inclusion in the field of retail banking services in the Middle East and Africa for the year 2022 from major international institutions
QNB ALAHLI is taking all measures, methods and means that comply with the requirements stipulated in the Principles of Responsible Banking. It contributes to stimulating sustainable financing to achieve the goals of the Paris Climate Agreement and the United Nations Sustainable Development Goals, in order to implement and activate the plans and directions of the Central Bank of Egypt and Egypt's Vision 2030.